Qld cracks down on tax compliance

A crackdown on tax compliance is expected to recoup up to $192 million over the next four years for the Queensland government.

A new penalty will be introduced for mining companies making incorrect royalty payments. The stricter compliance measures will extend to payroll taxes and individuals cheating on property discounts or grants.

Queensland government officials said the penalty could be in the vicinity of 75 per cent of the missing payment, on top of lost interest.

A number of companies had already been identified for either late or incorrect royalty or payroll tax payments.

The government will spend $31.5 million over the next three years and $11 million every year from fiscal 2016 targeting “serious non-compliance".

The government capital statement in the budget yesterday says $6.8 million has already been spent on new technology and an analysis licence to gain access to databases for “enhanced capability to maximise revenue identification".

The decision to provide resources for a fight against non-compliance was a key recommendation of the commission of audit headed by former federal treasurer
Peter Costello
.

Administration for royalty payments has been transferred from the Department of Natural Resources and Mines to the Office of State Revenue within Treasury.